What Should Be Done to Succeed?

  • Shigeru Matsumoto


The author uses the analogy of fighting a war to discuss successful post-acquisition management strategies, arguing that conducting due diligence prior to an acquisition and performing preliminary integration tasks after are not sufficient, although academics and professionals tend to focus on those. Matsumoto observes that these tasks are undertaken to prevent failure, not to foster success, arguing that completing an outbound M&A is essentially establishing a beachhead in the target market from which to launch an invasion. Successful strategy determines the main battlefield location (where and with whom to fight), how the battle will be fought (what to compete with), and battle timeframe (a short-term, decisive battle or a long-term war). Effectively addressing these aspects of the fight (post-acquisition management) can ensure a successful acquisition.


  1. Tobe. R, Y. Teramoto, S. Kamata, T. Suginoo, T. Murai, and I. Nonaka (1984) The nature of failure: Organizational theory research on the Japanese military. Tokyo: Diamond, Inc. (in Japanese).Google Scholar

Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Shigeru Matsumoto
    • 1
  1. 1.Graduate School of ManagementKyoto UniversityKyotoJapan

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